Travel Nurse Stories, Resources, and Tips
Travel Nurse Stories, Resources,
Breakdown Your Travel Pay Package
There are multiple components of a pay package and it’s important to understand the various components to ensure that you receive the package that best works for you. GIFTED Healthcare is here to help breakdown all the information you need to know when reviewing your package. Read on below!
Pay Package Outline
Before we jump into all the details of your pay package, let’s quickly overview what to expect.
In order to receive a travel pay package, the IRS requires that you must duplicate your housing expenses to qualify as a travel RN. I.E. your travel housing expenses would be in addition to your current housing expenses in your hometown.
Once that is confirmed, your travel pay package is usually quoted as a gross weekly amount which is the amount before taxes. The net weekly amount is the amount after taxes that will be deposited into your account. You can use websites such as Pay Check City to calculate your net weekly take-home amount based on your pay package and tax options.
Your pay package breakdown is as follows:
- Taxed hourly rate
- Non-taxed housing stipend
- Non-taxed meals and incidentals stipend
Along with the above, some packages also include other stipends such as travel reimbursements, insurance benefits, licensure reimbursements, or bonuses, but not all are included in every pay package so make sure to chat through all possibilities with your recruiter.
Let’s jump into the details.
At GIFTED, we offer a housing stipend to help maximize your take-home pay but make sure to research housing options in the area to gather insight before signing your contract. If hassle-free housing is more important, then GIFTED can accommodate your requests. Be sure to ask your recruiter for more details.
Meals and Incidentals Stipend
This is the amount of your check that is allocated to cover expenses incurred while on assignment and working away from home. This stipend can be used to cover groceries, eating out, or additional expenses that you have.
Your travel stipend is a reimbursement provided at the beginning and end of your assignment. This stipend is used to cover the cost to get to and from your assignment. It can be put toward flying or driving, but most nurses choose driving so they have a car available to get to and from their facility.
Be sure to look into the benefits that come with your assignment. At GIFTED, we provide day-one medical, dental, and vision insurance. Learn more about GIFTED benefits here.
If you are applying for a license in a new state, you can be reimbursed depending on the state’s requirements. Chat through this possibility with your recruiter.
Some assignments allow for incentives including sign-on or completion bonuses. Your recruiter will provide details with each pay package.
GIFTED also offers referral bonuses, so refer an RN friend and you will both receive $500! Refer a friend today!
Utilize Your GIFTED Recruiter
Your GIFTED recruiter is there to help you through all phases of your assignment. Pay packages offered by different agencies can vary as they are tailored to meet individual needs, but it can also lead to confusion or stress. To ensure that you are getting fair compensation, make sure to compare the breakdown of each offer and connect with your GIFTED recruiter around your career and pay package goals.
Work with GIFTED
Looking for your next assignment? Connect with a GIFTED Healthcare Recruiter to learn about how GIFTED can advance your career!